Tokyo (August 29, 2014) - Bridgestone Corporation announced today that its wholly owned subsidiary, Bridgestone Industrial Products America Inc. (BIP) has established Bridgestone Productos Industriales Latinoamerica SpA. (BIPL) in Santiago, Chile, a company dedicated to sell industrial materials such as conveyor belts and other related products. The new company will commence operations in October, 2014.
Given the expected demand increases of copper over the medium to long-term, production of copper is expected to rise substantially at copper mines across Chile and Peru, which are among the world's most prominent mining locations. By establishing BIPL, the Bridgestone Group will be able to more efficiently provide mining customers conveyor belts for transportation of minerals and others and offer enhanced services to customers. These services will include services such as maintenance to help customers more effectively run their belt systems and achieve better overall operating results in their mines.
Moving forward, the Bridgestone Group will strive to respond quickly to fluctuations in market demand and provide customers with even better-quality products and services.
Overview Of BIPL
| 1. Company name |
: Bridgestone Productos Industriales Latinoamerica SpA. |
| 2. Location |
: Santiago, Republic of Chile |
| 3. Establishment |
: Legally established in August 2014 (start of operation: October, 2014) |
| 4. Representative |
: Andrew Minwegen (concurrently, president of BIP) |
| 5. Capital |
: US$ 250,000 (approximately ¥25 million) |
| 6. Ownership |
: Bridgestone Industrial Products America Inc. - 100% owner of the subsidiary |
| 7. Number of employees |
: 4 employees in 2014. |
| 8. Products |
: Industrial products (primarily conveyor belts) and related services |
